BLUNDER REVEALS CARBON TRADING DATA
Europe’s biggest clearing house, LCH.Clearnet, has admitted that “confidential information” about trading in carbon emission allowances, including the names of individual traders, was mistakenly published on the internet. Climate Markets, which provides marketing services for LCH.Clearnet, said the information was placed on its website in error and has now been removed.
GOOGLE TO TRANSLATE EUROPEAN PATENT CLAIMS
Technology could help unblock one of Europe’s oldest political impasses when Google unveils a deal today to do computer-based translations of patent material submitted to the European Patent Office. Under the memorandum of understanding, Google Translate will be applied to all patent applications flowing into the EPO.
DAVIS TO HEAD INVESTMENT LOBBY AT ABI
The Association of British Insurers has hired web entrepreneur and journalist Jonathan Davis as its chief investment lobbyist. Davis, founder of the private shareholder website Independent Investor, will serve as the ABI’s new director of investment affairs, working alongside its investment committee. He replaces Peter Montagnon, who left the ABI for the Financial Reporting Council this year.
GRAMERCY SETS UP OFFICE IN LONDON
Gramercy, the US emerging markets-focused hedge fund that shot to prominence through its lucrative trading of Argentine government bonds, is to open a new office in London. The fund manager is understood to see significant opportunities in European sovereign debt markets over the coming years.
VODAFONE CUTS ITS EUROPEAN ROAMING CHARGES
Vodafone has kicked off a price war for data roaming that will sharply reduce the cost of using a smartphone abroad. Vodafone has slashed the price of data roaming to £2 a day for 25MB, enough to read and reply to 250 e-mails, access Facebook 500 times or download 65 maps. It previously charged £1 per megabyte.
SHELL DECIDES TO REVAMP ITS LONDON OFFICES
Shell has started plans to redevelop its London headquarters on the South Bank. It has opened discussions with developers on an invitation-only basis about redeveloping the Shell Centre, built nearly 50 years ago near Waterloo Station. It houses a 27- storey tower that was the first skyscraper taller than the Victoria Tower at the Palace of Westminster.
The Daily Telegraph
STUDENTS SHOULD GAIN BUSINESS SPONSORSHIP SAYS DAVID WILLETTS
More businesses should sponsor students through university, says David Willetts, as part of the government's overhaul of higher education and workplace training. Willetts told business groups at the launch of the government’s growth strategy that planned reforms of higher education and workplace training would require companies to stump up more cash.
STARBUCKS ACCUSES CADBURY OWNER KRAFT OF DAMAGING ITS BRAND
Kraft, the US owner of Cadbury, has been accused by Starbucks of damaging its brand as the two firms square off in a dispute unlikely to be resolved over a cup of coffee. In the latest salvo in a fight over Kraft’s right to sell Starbucks’ packaged coffee in grocery shops, the firm said Kraft failed to liaise on marketing initiatives.
WALL STREET JOURNAL
KREMLIN PLAYS DOWN CABLES' TAKE ON RUSSIA'S ALPHA DOG
Russian officials played down the release of diplomatic documents that portray Prime Minister Vladimir Putin as the dominant ruler in a “virtual mafia state”. Newly posted documents on the WikiLeaks website include a US Embassy cable describing Putin as an “alpha dog” who calls the shots and President Dmitry Medvedev as a pale, hesitant figure who “plays Robin to Putin’s Batman”.
PORSCHE SWINGS TO PROFIT
Porsche said yesterday it swung to a €155m (£130.6m)??net profit in the first three months of its fiscal year after suffering a €431m loss a year earlier, and reiterated that full-year earnings are expected to be positive in 2011. It said comparison with last year was hard as previous figures did not separate Volkswagen’s earnings.